Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In Inspired To Contact Him Directly To Discuss Their Options
If you purchased or acquired securities in Inspired and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/INSE.
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New York, New York--(Newsfile Corp. - November 22, 2023) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Inspired Entertainment, Inc. ("Inspired" or the "Company") (NASDAQ: INSE).
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
On November 8, 2023, Inspired Entertainment announced it would require additional time to complete financial statements for their third quarter of 2023 and restate certain previously issued financial statements. The press release stated, "[i]n connection with the preparation of the financial statements of the Company for the quarterly period ended September 30, 2023, the Company, in consultation with its current independent registered public accounting firm, KPMG LLP, identified certain accounting errors relating to the compliance with U.S. GAAP in connection with the Company's accounting policies for capitalizing software development costs. The errors relate primarily to the application of the relevant accounting standards to projects, including the timing of capitalization with respect to software development projects and the nature of costs eligible for capitalization. The Company is currently undertaking a review of other financial statement line items and related accounting policies to ensure U.S. GAAP compliance. The Company is currently unable to determine whether this review will result in further adjustments being required."
On this news, Inspired Entertainment's stock price fell $2.71 per share, or 26.06%, in intraday trading on November 9, 2023.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/188107
Original Source of the original story >> Inspired Shareholder Notice